Debit card fraud rates fell last year, according to a widely watched annual study of the U.S. debit market. The study also provides new insights about debit cards and mobile wallets, and debit’s increasing popularity for small purchases. The fraud-loss rate for non-PIN (mostly signature-debit) transactions fell 30% from 2.6 …
Read More »Search Results for: stripe
Google Aims To Leverage Its Millions of Credit Card Credentials for Mobile Commerce
Google plans soon to give merchants access to the vast trove of credit card credentials it has in its databases to speed customer checkout for mobile and online payments. The search-engine giant, however, is not putting itself in competition with payment card networks, a Google executive said this week. The …
Read More »Payroc Launches Mobile POS Product and other Digital Transactions News briefs
Steven A. Rathgaber, who has been chief executive of ATM-networking firm Cardtronics plc since 2010, will retire at the end of the year and will be succeeded by Edward H. West, currently chief financial officer and chief operations officer, the company announced. Rathgaber came to Cardtronics from the NYCE electronic funds transfer …
Read More »Last Year Saw Double-Digit Drops in Fraud Rates for Debit Issuers, Pulse Study Says
There’s some good news for U.S. debit card issuers in the form of reduced fraud rates, according to the 2017 Debit Issuer Study released Monday by Pulse, the electronic funds transfer network owned by Discover Financial Services. The fraud-loss rate for signature-debit transactions fell 30% from 2015’s 2.6 cents per …
Read More »The NRF Expects Eight in 10 Small Retailers To Have EMV Terminals by Year’s End
Smaller retailers haven’t yet closed the EMV-acceptance gap with big ones, but they are making progress on installing EMV chip card readers at the point of sale, according to findings from a recent survey for the National Retail Federation. The online poll found that 60% of small brick-and-mortar retailers had …
Read More »New Data Helps ISOs Court SMB E-Commerce Merchants in the Top U.S. Cities
Acquirers wanting to tap into the ever-growing number of e-commerce merchants, especially small businesses, might do well to target a handful of U.S. cities with large bases of retail entrepreneurs. E-commerce platform provider Volusion released this week a list of the top 10 cities based on volume of merchants and …
Read More »Eye on Acquiring: Vantiv Debuts an API; ExaDigm Launches a Hospitality Terminal
Merchant processor Vantiv Inc. on Monday launched triPOS Cloud, a cloud-based application programming interface intended for independent software vendors and merchants looking to integrate payments with point-of-sale systems. As an API, triPOS Cloud enables developers to integrate payments functions with a few pieces of code. The service incorporates encryption and tokenization, …
Read More »Retailer Chooses Ingenico and other Digital Transactions News briefs
Ingenico Group said retailer City Furniture is using Ingenico mobile point-of-sale readers and software services as part of its new POS system used in its 27 stores. Payment card manufacturer CPI Card Group Inc. reported second-quarter sales of $65.8 million, down 10.7% from the same period last year. Its net loss was $2.2 …
Read More »WEX’s Fraud Spike Puts the Spotlight on EMV-Induced Skimmer Placements on Fuel Pumps
Fraudsters are hitting fuel pumps hard as they hunt for the dwindling number of places where they can take advantage of magnetic-stripe payments while EMV chip card acceptance takes hold in U.S. stores and restaurants. Last week, fleet-fueling payment card specialist WEX Inc. revealed that it increased its second-quarter provision …
Read More »So You Want To Be a Payfac? There Are More Every Year, Despite Widespread Confusion
The number of payment facilitators is growing rapidly, with technology platforms and independent software vendors alike increasingly taking on the role. Yet confusion remains about just how a payment facilitator—or payfac, in industry parlance—differs from a conventional merchant acquirer or even from a marketplace. That confusion clouds the responsibilities payfacs …
Read More »